2250 W. JOHN CARPENTER IRVING, TEXAS

OFFERING SUMMARY INVESTMENT OVERVIEW HFF, L.P. has been exclusively retained by the Owner to offer qualified investors the opportunity to purchase 2250 W. John Carpenter, a 127,433 square foot, institutionally maintained Class A office building located in the Las Colinas office market of Dallas/ Ft. Worth. Currently 95% leased to Exeter Financial Group and the Defense Contract Audit Agency (DCAA–GSA), the Property offers an average remaining lease term of 7.1 years. 2250 W. John Carpenter presents investors with the opportunity to acquire a stable, cash flowing asset at a discount to replacement cost in Dallas/Ft. Worth, one of the most dynamic economies in the U.S.

PROPERTY OVERVIEW

Address: 2250 W. John Carpenter Freeway Irving, Texas 75063 Submarket: Las Colinas Rentable Area: 127,433 square feet Percentage Leased: 95% Year Built: 1998 Stories: 5 Site: 8.6 acres Parking: 709 parking spaces for a parking ratio of 5.6 per 1,000 square feet. Includes a two and a half level parking garage consisting of 325 spaces.

TENANCY OVERVIEW

% of Lease Remaining Tenant Square Feet Property Expiration Lease Term Exeter Financial Group 93,287 73.2% Aug-23 7.3 Years DCAA 26,908 21.1% Sep-22 6.4 Years Vacant 6,175 4.8% N/A N/A Other 1,063 0.8% N/A N/A Total 127,433 100% 7.1 Years

HFF | 2 INVESTMENT HIGHLIGHTS

LAS COLINAS OCCUPANCY VS. RENTAL RATES INSTITUTIONAL QUALITY ASSET WITH IDEAL HIGHWAY VISIBILITY 2250 W. John Carpenter is a 127,433 square foot, institutionally maintained Class A office building with excellent visibility and easy ingress and egress near88% the intersection of State Highway 114 and State $28. 0Highway0

161 in Las Colinas. Because of its central location, the Property is easily accessible from anywhere $2 7in.00 Dallas/ Ft. Worth. Built in 1998, the Property’s efficient8 6rectangular% floor plates and 5.6 per 1,000 square feet parking ratio cater to tenants of all sizes. The Property also offers floor-to-ceiling windows and structured $parking26.00 in an 84% ) F

$25.00 S P

adjacent 325-space garage. The Property is strategically located just minutes from DFW International Airport.( y

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STABLE IN-PLACE CASH FLOW t

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80% e Currently 95% leased to Exeter Financial Group and the Defense Contract Audit Agency (DCAA-GSA), 2250R W. $22.00 John Carpenter possesses an average remaining 7lease8% term of 7.1 years. In addition to significant lease term, the Offering provides an investor with stable cash flow given the credit nature of the tenancy. Additional $21.00 credit support is available through a $1.9 million letter of76% credit through Exeter. $20.00 2011 2012 2013 2014 2015 2016 Q1

DISCOUNT TO REPLACEMENT COST & BELOW MARKET RATESClass A Occupancy Class A Rental Rate The offering presents a unique opportunity to acquire a long-term leased asset at a significant discount to replacement cost – which is estimated to be in excess of $250 per square foot. Additionally, the in-place rental rates are 19% below market upon rollover providing significant upside upon lease expiration.

LAS COLINAS OFFICE MARKET West LBJ/OFFICE CENTER RENTAL RATES and The Las Colinas office market is one OCCUPANCY WEST LBJ/OFFICE CETNER RENTAL RATES AND OCCUPANCY of Dallas/Ft. Worth’s top suburban submarkets. The area experienced 98.0% $28.00 over 1.1 million square feet of positive absorption in the last 12 96.0% $27.00 months equating to roughly 15% of the total DFW amount. Fortune 1000 94.0% $26.00 companies that are headquartered in Las Colinas include Exxon Mobil, 92.0% Kimberly Clark, Celanese, Fluor, and $25.00 Pioneer Natural Resources. The area 90.0% has continued to add to the already $24.00 impressive list of global firms that 88.0% call Las Colinas home. $23.00 86.0%

$22.00 2250 W. John Carpenter is located 84.0% in the Office Center/West LBJ submarket of Las Colinas. As of first 82.0% $21.00 quarter 2016, Class A buildings in the submarket had an average occupancy 80.0% $20.00 of 92.3%, and experienced rent 2011 2012 2013 2014 2015 2016 Q1 growth of 6% in 2015 to $27.01 per Submarket Class A Occupancy square foot full service through first Submarket Class A Rental Rate quarter 2016.

HFF | 3 LAS COLINAS LOCATION

Las Colinas is a 12,000 acre, master-planned development in the center of DFW immediately adjacent to the DFW International Airport. The market is a preferred location for corporate users due to its central location, diverse amenity base and abundant residential options. • Gables broke ground on the Water Street development in the fall of 2015. The development will feature 340 multifamily units and 60,000 square feet of retail on the north shore of Lake Carolyn. • The Irving Music Factory is a state-of-the-art $165 million development scheduled to open late-2017. The development will feature multiple outdoor stages, an open plaza and a large 8,000-seat amphitheater. • Over 1,500 new single family homes and approximately 2,500 multi-family units either planned or under construction. • Hines is developing the Parkside and Bridges at Las Colinas neighborhoods next door and across the highway from the Property.

Downtown Dallas Irving Convention Galleria Center Las Colinas Irving Music Factory Urban Center Christus Health Four Seasons Resort Exxon Mobile La Quinta Inn Zales & Club at Las Colinas Oracle Goldman Sachs Nokia Microsoft TXU Energy Epsilon Las Colinas President George Bush Turnpike Office Center

Hackberry Creek McKesson HD Vest 1,263 Homes Caliber Home PDS Tech Loans, Inc. Bell Sports Lufthansa Right Source Conexis LifeSynch 2250 W. JOHN CA R P ENTER I RVIN G, TEXA S On The Border Campus Circle Dr. E

Maxim Semiconductor Facility

Royal Lane

State Highway 114

Hines Bridges at Las Colinas Single Family Development (399 lots) Hines Parkside East Single Family Development (250 lots) DECATUR PROSPER DENTON

McKINNEY PONDER LITTLE FARMERSVILLE ELM CORINTH FRISCO ARGYLE Y WA OLL N T Lewisville UR YB RA Lake AM ALLEN THE COLONY S HIGHLAND LUCAS VILLAGE JUSTIN RHOME Lavon Lake LEWISVILLE WYLIE ENT GEORGE BU H PLANO FLOWER MOUND SID S T E UR MURPHY R NP TROPHY P IK E Fort Worth ROANOKE Alliance CLUB Grapevine Airport Lake ROYSE HASLET CARROLLTON Addison SACHSE 22 Airport CITY GRAPEVINE COPPELL50 ADDISON RICHARDSON W. JOHN CARPENTERNorth SOUTHLAKE IRVING, TEXAS KELLER Lake FARMERS 30 BRANCH ROCKWALL AZLE

Mountain LAS COLINAS Preston Lake GARLAND D

D Hollow Highlands ROWLETT A

Lake A

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Dallas/Fort Worth L

A A

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COLLEYVILLE International DALLAS N

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SAGINAW WATAUGA Airport LOVE FIELD T

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University T

AIRPORT T

O O Lake Ray Hubbard

IRVING Park

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BEDFORD L W

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A A Y 820 RICHLAND Y White Rock Highland HEATH HILLS EULESS Park Lakewood Lake LAKE 820 Fort Worth Meacham HURST Lake Worth WORTH Airport HALTOM CITY Uptown 30 SUNNYVALE NAS Joint Reserve FORT DALLAS CBD Base Fort Worth WORTH 30 WHITE WESTOVER 30 30 MESQUITE CBD FORNEY SETTLEMENT HILLS OAK CLIFF 820 ARLINGTON GRAND PRAIRIE Y. W K Lake Mountain 30 P IL RA Arlington Creek Lake 45 820 T ADDITIONAL INFORMATION M

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H If you have any questions or require additionalDALWORTHINGTON information, please contact the individuals below. C JUNCTION ANDREW LEVYFOREST | Senior ManagingHILL DirectorGARDENS | [email protected] | 20469.232.1961 BENBROOK TODD SAVAGE | Managing Director | [email protected] | 469.232.1930 DUNCANVILLE EDGECLIFF HUTCHINS ELIZABETH MALONE | Director | [email protected] | 469.232.1964 20 VILLAGE 2323 Victory Avenue, Suite 1200 SEAGOVILLE CHRIS MURPHY | Associate Director | [email protected] | 469.232.1941 Joe Pool Dallas, TX 75219 CRANDALL Benbrook Lake Lake DE SOTO LANCASTERTelephone: 214-265-0880 ADAM KRAUS | Real Estate Analyst | [email protected] | 469.232.1942 Facsimile: 214-265-9564 www.hfflp.com For questions regarding debt structures on this property, please contact: 45 KAUFMAN CEDAR HILLHFF has been engaged by the owner of the property [properties] to market it [them] for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employ- CROWLEYCAMPBELL ROCHE | Director | [email protected] | 469.221.7770 ees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. BURLESON MANSFIELD The information contained herein is subject to change. FERRIS

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